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The Malaysian Home Appliances market reported 1,305,631 units sold for the first half of 2008, according to research firm GfK. According to the firm, despite the recent global economic downturn pushed by soaring food prices and the rise in global oil prices, there has been a relatively strong growth in sales consumption for home appliances compared to the first half of 2007; at 8.4% in unit sales and 8.6% in value sales.
Some of the key product groups leading the growth are refrigerators, growing at 5.8% in value sales. Refrigerators remain the largest contributor to overall home appliance sales in Malaysia, contributing 32.5% of the total market, followed by air-conditioner sales. However, GfK says, air-conditioners posted a 17% growth in value, thus raising its value share to 30.5%. Washing machines, which are the third largest contributor to the segment, grew 4.5% in value sales for an overall 5.4% share.
GfK says that the strong growth of small appliances such as Food Preparation (Blenders, Choppers, Mixers, which grew at 15.6% value sales, and irons, which grew at 16% value sales, also contributed to the segment's growth in the first half of 2008.
The firm predicts that the home appliance industry in Malayasia will slow in the second half of 2008, largely due to reduced consumer spending power.
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